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Dec 12, 2012
12/12
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. >> meantime, tensions boiling over in michigan. big labor unleashing its fury as the governor writes a right to work legislation into law. a live report from there next. goldman sachs ceo live from the deal book conference in a cnbc exclusive. what's his take on the fiscal cliff, the economy and regulatory land scape. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. >> meantime, tensions boiling regulatory landscape. >>> welcome back. i wanted to take a look at shares of berkshire hathaway. earlier, right at the open, berkshire shares were halted. it was unclear why. then we got the news, a significant repurchase of -- or purchase, i should sa
. >> meantime, tensions boiling over in michigan. big labor unleashing its fury as the governor writes a right to work legislation into law. a live report from there next. goldman sachs ceo live from the deal book conference in a cnbc exclusive. what's his take on the fiscal cliff, the economy and regulatory land scape. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and...
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Mar 6, 2012
03/12
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the week before, that is, rick santorum had raced out to a lead in michigan, then mitt romney came and pounded him on television, diminished that lead, passed him by 3 percentage points. you see mitt romney has got a lead of just over a point when you average all of the polls. just above 39 -- or 39, rather. 37 for rick santorum and if mitt romney can hold that lead, we may be seeing the beginning of the end, guys. >> all right. thank you very: john harwood, a reminder, special coverage of super tuesday with john and maria bartiromo here on cnbc. in the meantime, lots of hot-button issues front and center. here is paul o'neill, the former treasury secretary. it's good to have you with us. >> thank you. >> i want to get your take on the overall economy. there is this debate on the street whether or not qe 3 is warranted, is necessary. president fisher said, no it's time for dr. fed to wean this off. probably april or june meeting we will need qe 3. what do you think? >> i don't think we need qe 3. i think -- i guess i'm on the side of we will see a fairly positive, consistent, not gang
the week before, that is, rick santorum had raced out to a lead in michigan, then mitt romney came and pounded him on television, diminished that lead, passed him by 3 percentage points. you see mitt romney has got a lead of just over a point when you average all of the polls. just above 39 -- or 39, rather. 37 for rick santorum and if mitt romney can hold that lead, we may be seeing the beginning of the end, guys. >> all right. thank you very: john harwood, a reminder, special coverage...
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Nov 7, 2012
11/12
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campaigning on auto bailout was a winning strategy in ohio and michigan. any that doubt that, i do see ford and gm to the downside. we have active trading in defense stocks around here on the corner just at the open here. they're down. sequestration can be avoided. i said that yesterday. a lot of people believe that today. status quo in congress is going to lessen defense cuts that will be coming. they'll be coming. that's why they're down. leadership of the defense committees, that's likely going to remain a net positive for defense stocks overall. health care, anyone who doubts obama care is now a foregone conclusion. love it or hate it, it is. hospital stocks, trading up. medicare managed companies are up because medicare coverage is going to be expanded here. energy stocks, exxon is around here. coal stocks down. exxon down a bit here. maybe 1%. i think the important thing here on energy is the status quo is being preserved in congress. that's going to make it less likely they'll have success in eliminating the tax preferences for energy companies that
campaigning on auto bailout was a winning strategy in ohio and michigan. any that doubt that, i do see ford and gm to the downside. we have active trading in defense stocks around here on the corner just at the open here. they're down. sequestration can be avoided. i said that yesterday. a lot of people believe that today. status quo in congress is going to lessen defense cuts that will be coming. they'll be coming. that's why they're down. leadership of the defense committees, that's likely...
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Dec 11, 2012
12/12
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bean. >>> want to take you to lansing, michigan. this video shot a few moments ago where the state legislature is considering making michigan the 24th right to work state. basically restricting unions in what is obviously a stronghold of organized labor. this is the scene outside the capitol which has already been closed because it was filled to capacity. an estimated 10,000 people demonstrating outside where it's about 25 degrees. also several school districts in michigan have been closed as the teachers there have gone to lansing to join the rallies. quite a scene today in michigan. >>> meantime, time for a capital markets op-ed. gary, we mentioned madoff. it's hard to believe it's been four years. >> as a matter of fact, david and i were just talking about it offset. it was 3:00 four years ago today. i got a phone call. you're not going to believe this. they finally got madoff. faber and i had been chatting about it probably for close to a decade. remember, within the industry, the numbers, the performance, this was something tha
bean. >>> want to take you to lansing, michigan. this video shot a few moments ago where the state legislature is considering making michigan the 24th right to work state. basically restricting unions in what is obviously a stronghold of organized labor. this is the scene outside the capitol which has already been closed because it was filled to capacity. an estimated 10,000 people demonstrating outside where it's about 25 degrees. also several school districts in michigan have been...
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Feb 3, 2012
02/12
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we were headquartered in michigan. unemployment in michigan is down almost 5% from the worst point in the recession. in some regions we'll feel it more than others. overall, it's not a big enough mood yet that it drives much but it's getting better. >> we've seen a lot of companies struggle with the discounting dynamic. olive garden, a lot of retailers over the holiday season. do you feel like you're going to have to discount less this year or more or how much? >> consumers are still demanding value and we're going to give them value and commodities easing off a little bit help that. you know, a bit more than last year. a lot of commodity pressure, snore level margins a little bit squeezed, particularly in the summer from commodities. consumers still need value. we're going to give them value. i don't think i see a big change in that year over year. but that's something we watch very, very carefully as the year goes on. >> patrick, have a great time this weekend. good luck on sunday. >> thanks, carl. >> patrick doyle,
we were headquartered in michigan. unemployment in michigan is down almost 5% from the worst point in the recession. in some regions we'll feel it more than others. overall, it's not a big enough mood yet that it drives much but it's getting better. >> we've seen a lot of companies struggle with the discounting dynamic. olive garden, a lot of retailers over the holiday season. do you feel like you're going to have to discount less this year or more or how much? >> consumers are...
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Mar 16, 2012
03/12
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inflation, what did we learn from the university of michigan sentiment survey. whether you believe the preliminary read or not one of the metrics moved to 4%. this is a real wild card. i was amazed. now you can double short the treasuries, etfs. there are a lot. they have to track. are we creating a spiral? as rates move higher, speculators jump in. i have no problem with speculators. maybe etf activity contributed to some selling. those are the ingredients. now it's up to traders to really put on how many tablespoons of each. once you get that down you will know the next big trade. back to you. >> that was awesome. i'm not kidding. >> you may want to check "equities" there. i think it was equites. >> the man's in a hurry. you're checking his spelling? >> from the beginning i worked with people in bonds. rick understands the components. you know rates can rise here, but you have to check off the whole list. that was just a great primer for those of us learning every day about the bond market. >> every day. >> apple's san jose store opened moments ago. the race i
inflation, what did we learn from the university of michigan sentiment survey. whether you believe the preliminary read or not one of the metrics moved to 4%. this is a real wild card. i was amazed. now you can double short the treasuries, etfs. there are a lot. they have to track. are we creating a spiral? as rates move higher, speculators jump in. i have no problem with speculators. maybe etf activity contributed to some selling. those are the ingredients. now it's up to traders to really put...
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Mar 14, 2012
03/12
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he blue leaew leads in michigan ohio. the south is not romney's best spot. that's the core of the republican party. santorum is a force. that's all i'll say. >> meanwhile, talking about the ten-year today. >> 224ish. >> i love the ten-year rate rising. in my view bond rates are partly a reflection of the economy. it's a real interest rate effect. so the numbers coming out are better, the employment numbers are better, retail sales numbers were better. a lot of numbers were better. if we're growing at 3% trend line, bonds ought to be about 3% if you ask me. and i also like the fbt that gold is falling and the dollar is rising. that spells productive investing. it all corroborates the stock market. before taxes go up next year, if that's what's going to happen on difficult depends -- >> not tax hikes. current tax structure. i am fed up to here saying the bush tax cuts. that was '03, right? this is 2012. that's the tax code, okay, once and for all! >> but that's a threat. i don't think you can be forever bullish. you have to wait and see what happens. we have d
he blue leaew leads in michigan ohio. the south is not romney's best spot. that's the core of the republican party. santorum is a force. that's all i'll say. >> meanwhile, talking about the ten-year today. >> 224ish. >> i love the ten-year rate rising. in my view bond rates are partly a reflection of the economy. it's a real interest rate effect. so the numbers coming out are better, the employment numbers are better, retail sales numbers were better. a lot of numbers were...
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Mar 20, 2012
03/12
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vacation in the upper peninsula of michigan. good people. people have been going back to work up there in iron ore. again, is america a growth nation? maybe not in that. but people are going back to work. >> right. in terms of the ripple effects, immediately off the back of the comments we saw the impact on a pullback in aussie u.s. dollar. we're seeing the dollar strengthen having an impact on the overall commodity trade. we have crude, for instance, down by more than a buck right now. we had some comments out of saudi arabia saying you know what? we'll stand by. we'll make sure prices are good. we're going to send oil right now. saying tankers are on the way. the oil is coming. it takes 40 days to cross the ocean. >> they're going to give away the gas in saudi arabia. if oil breaks below 80 bucks before the end of the year, melissa, i'll buy you a starbucks. a small starbucks coffee. because when saudi arabia says help is on the way for them, help the $80 to $85 a barrel which is not helping us. >> $80 to $85 a barrel is helping. we're at
vacation in the upper peninsula of michigan. good people. people have been going back to work up there in iron ore. again, is america a growth nation? maybe not in that. but people are going back to work. >> right. in terms of the ripple effects, immediately off the back of the comments we saw the impact on a pullback in aussie u.s. dollar. we're seeing the dollar strengthen having an impact on the overall commodity trade. we have crude, for instance, down by more than a buck right now....
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Oct 1, 2012
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michigan will have a constitutional state amendment on their ballot in november. to make it jordan sweet, it will really empower unions, so potentially what happened in indiana, right to work state won't happen. my question is, boy, michigan, how well did the unions and the auto industry turn out? think gm bailout. this is shocking to me because the states that seem to be going the other way show so much more economic depth in the recovery. thoughts? >> well, first of all, you're right. the key on this question, though, to look a little bit deeper is that it is really about public employee unions because the private unions are protected by federal law, but what this question is on the ballot is basically saying that the rights of collective bargaining apply to all public employees, so let's take it one step further. what it really means is when it comes to michigan and the state government's ability to say, look, foodservice in the schools will be handled by private companies, bus transportation handled by private companies, what you're looking at is 2 to $3 billi
michigan will have a constitutional state amendment on their ballot in november. to make it jordan sweet, it will really empower unions, so potentially what happened in indiana, right to work state won't happen. my question is, boy, michigan, how well did the unions and the auto industry turn out? think gm bailout. this is shocking to me because the states that seem to be going the other way show so much more economic depth in the recovery. thoughts? >> well, first of all, you're right....
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Mar 21, 2012
03/12
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couldn't do it after failing in michigan and ohio. rick santorum could win that. there are not enough deep states to prevent romney from winning the election and then the primary turns to wisconsin, another midwestern state, maryland, and then to the northeast even if santorum wins pennsylvania, which is his home state, difficult to see him prevailing in new york, connecticut, new jersey. >> john, interesting. john harwood there in washington. >> i want to bring in larry kudlow to dissect everything from the keystone pipeline. it's a done deal. mitt romney is a done deal. >> it is a done deal. i was giving a drum roll on it. romney's speech last night and his speech a couple days earlier at the university of chicago really is emphasizing free enterprise, business, business creativity, business innovation, and economic freedom and for a free market guy like me, it disturbs my soul. i want him to stay on message. >> john harwood's message was spot on. i agree. and the jeb bush thing, it's almost like jeb bush crowning romney in a symbolic way because jeb has huge st
couldn't do it after failing in michigan and ohio. rick santorum could win that. there are not enough deep states to prevent romney from winning the election and then the primary turns to wisconsin, another midwestern state, maryland, and then to the northeast even if santorum wins pennsylvania, which is his home state, difficult to see him prevailing in new york, connecticut, new jersey. >> john, interesting. john harwood there in washington. >> i want to bring in larry kudlow to...
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Sep 10, 2012
09/12
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apple, right now at $680. >>> ford today is reopening a michigan plant with a next generation mustang and a ford fusion will be built. phil lebeau has a very special guest. >> i'm joined by mark fields, the vice president of ford, head of ford of the americas. joining us from the flat rock assembly plant you guys are reopening today. this is adding 1,200 jobs, a second shift for production of the 2013 fusion. do you have enough capacity now here in north america because its sales have grown so much and you've had fairly tight capacity? how do you feel right now? >> we feel pretty good. we're here at flat rock assembly plant to celebrate a new era. this used to be a plant that was shared with mazda. we're now going to be producing only ford vehicles here. to your point about capacity, we're in the process right now of launching our new fusion, which is produced down in hermisillo, mexico. we're going to continue with our strategy, matching capacity demand. the good news is more and more customers are wanting our vehicles. >> when you take a look at your sales last month, stronger than
apple, right now at $680. >>> ford today is reopening a michigan plant with a next generation mustang and a ford fusion will be built. phil lebeau has a very special guest. >> i'm joined by mark fields, the vice president of ford, head of ford of the americas. joining us from the flat rock assembly plant you guys are reopening today. this is adding 1,200 jobs, a second shift for production of the 2013 fusion. do you have enough capacity now here in north america because its sales...
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Mar 27, 2012
03/12
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number three, the absolutely ridiculous burger in michigan. number three, colby beef and maine lobster burgers. and the fleur dely's hamburger. >> i have had expensive steak at wolfgang in vegas. >> i've been to prime in vegas. >> there was a burger king burger on that list for $185. >> a really upscale neighborhood. >> okay. that was a little surprising. yes, in vegas, you can get anything, as you know, at any price. >> that's absolutely true. when we come back, it is closing time across the pond. the bell set to ring in just a couple of minutes. we'll bring you the close live there, tell you what it means for your money here at home. "squawk on the street" continues in just a moment. >>> >>> coming up, join us as we head across the sea. european markets are closing momentarily. and we plan on being there for every detail. "squawk on the street" will be right back. w i bathed it in miracles. director: [ sighs ] cut! sorry to interrupt. when's the show? well, if we don't find an audience, all we'll ever do is rehearse. maybe you should try ev
number three, the absolutely ridiculous burger in michigan. number three, colby beef and maine lobster burgers. and the fleur dely's hamburger. >> i have had expensive steak at wolfgang in vegas. >> i've been to prime in vegas. >> there was a burger king burger on that list for $185. >> a really upscale neighborhood. >> okay. that was a little surprising. yes, in vegas, you can get anything, as you know, at any price. >> that's absolutely true. when we come...
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Dec 10, 2012
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. >> so consumer electronics, plastics, fabricated metals -- >> the president's in michigan today with extension from daimler. >> no, that's right. ironically michigan might vote to become a right-to-work state which could help their manufacturing competitiveness, as well. but thatroceeen going on for 20 years. now, look, we think we probably need to cut the corporate tax rate and have a territoriality agreement so we stop trying to tax profits of u.s. domiciled countries twice. but if we can do those things we think manufacturing will start coming back. it's not going to really happen in a major way in '13. but you know, '14, '15, these benefits will start to accrue to the economy and if it looks like there's a real strong case for a pickup in earnings growth, in '14, then the market will start to price that in the backup of '13. >> we spend so much time talking about what's going to happen in washington over the next 20 days. it's nice to actually have a conversation about what will happen in the next twelve months. brarry, thank you so much. >> i had to force myself to do it. >> bar
. >> so consumer electronics, plastics, fabricated metals -- >> the president's in michigan today with extension from daimler. >> no, that's right. ironically michigan might vote to become a right-to-work state which could help their manufacturing competitiveness, as well. but thatroceeen going on for 20 years. now, look, we think we probably need to cut the corporate tax rate and have a territoriality agreement so we stop trying to tax profits of u.s. domiciled countries...
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Jun 15, 2012
06/12
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we have the june preliminary reads from the university of michigan confidence index. it is not pretty. 74.1. our last look at 79.3 was the loftiest level since the fall of '07. 74.1 now can change. it is preliminary. but that is the softest read based on final reads going back to december of last year. so the lowest read of 2012 as it stands on a preliminary basis. and we continue to see yields slip under 160, but the equity markets are holding on. the reasons why have been debated largely. back to you. >> all right, rick, thank you very much. something that's never preliminary, of course, is 6 in 60. six stocks in 60 seconds with jim. we're going to begin with jpm. >> there's been embarrassing stuff about london, but the court business is fantastic. big, big drop off in delinquency loans, charge-offs. we have cash rich confidence poor nation. >> miller taback raising their confidence on disney. >> we have new theme parks that has historically driven traffic. bob iger. >> gas prices, too. weakness at boeing unjustified. >> boeing, don't forget, this is a company winni
we have the june preliminary reads from the university of michigan confidence index. it is not pretty. 74.1. our last look at 79.3 was the loftiest level since the fall of '07. 74.1 now can change. it is preliminary. but that is the softest read based on final reads going back to december of last year. so the lowest read of 2012 as it stands on a preliminary basis. and we continue to see yields slip under 160, but the equity markets are holding on. the reasons why have been debated largely....
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Oct 19, 2012
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michigan which lost the most jobs, followed by ohio with job losses for nearly that much, and while ohio showed gains of almost 90,000 jobs, there remains there long unemployed people like mark jacobs, searching craigslist every day. >> right now i'm applying for temporary holiday work like department stores and stuff. i tried that last year, got interviews, but not a position. people are saying jobs are number one. for me that's true. i don't give a damn about the deficit, we need to get everyone back to work, especially me. >> he says he's getting buy on his investments and calls jim cramer a rock stair. north dakota had the lowest unemployment rate again and that was at 3%. >> on this day 25 years ago, the dow sfel 2 -- dow fell 22% in one day. >>> and david, a day to remember, i talked to three veterans yesterday, i took them down to harry's bar to remember innocence. >> the brokers on the floor that you saw as iconic, their knees were quaking. >> what sticks in my mind is that the marketplace was very physical back then. i remember black monday working all day and sweating to death
michigan which lost the most jobs, followed by ohio with job losses for nearly that much, and while ohio showed gains of almost 90,000 jobs, there remains there long unemployed people like mark jacobs, searching craigslist every day. >> right now i'm applying for temporary holiday work like department stores and stuff. i tried that last year, got interviews, but not a position. people are saying jobs are number one. for me that's true. i don't give a damn about the deficit, we need to get...
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Jun 29, 2012
06/12
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>> university of michigan sentiment survey for june? it's going to be kind of famous but not in a good way. it's the lowest level of the year. 73.2. less than expectations. we're basically looking for a push. unrevised last look at 74.1. we're looking for a similar number. 73.2 is still not out of the range of significant extremes. think back, last year, 69.9 is currently the comp for december. but it wasn't that long ago. in september of '11, we were at 59.4. disappointing lows to the year. but doesn't look like we're getting a huge kickoff. this comes at a time when energy prices for the most part have been falling, which is evident by the last number, the big prices paid drop in the chicago pmi. back to you. >> thank you very much, rick santelli. time for some of this morning's stocks to watch. oracle upgraded at rbc, citing an accelerated growth outlook. goldman sachs cutting several dozen jobs from its u.s. operations as it seeks to cut costs because of slowing capital market activity. and sachs getting upgraded at jpmorgan. and fa
>> university of michigan sentiment survey for june? it's going to be kind of famous but not in a good way. it's the lowest level of the year. 73.2. less than expectations. we're basically looking for a push. unrevised last look at 74.1. we're looking for a similar number. 73.2 is still not out of the range of significant extremes. think back, last year, 69.9 is currently the comp for december. but it wasn't that long ago. in september of '11, we were at 59.4. disappointing lows to the...
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May 29, 2012
05/12
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university of michigan had oofr burner's, best numbers since the fall of '07. and we continue to monitor k-schi k-schiller. back to you guys. >> let's check out the latest moves in energy which has been the driver of a lot of the stock trading this morning. >> of course, a lot of folks were waiting to see the talks in baghdad and what came as the big.4. well, of course, we know that t it's staying off with new talks for june 18th and 19th in moscow. that has hadded some of the political risk back into the oil market. and they're also looking at the fact that of course we are talk about china, perhaps, try k to make some measures to stimulate its economy. we are seeing the greatest strength in the energy market with gasoline futures. and the biggest drag down toward that $2.50 mark. and the chatterings that perhaps the crisis right now, they're showing that there were marginally improving fundamentals. so that is something traders are watching. and, of course, they're watching the price level right around this $2.50 mark. >> interesting to see that. the benefit
university of michigan had oofr burner's, best numbers since the fall of '07. and we continue to monitor k-schi k-schiller. back to you guys. >> let's check out the latest moves in energy which has been the driver of a lot of the stock trading this morning. >> of course, a lot of folks were waiting to see the talks in baghdad and what came as the big.4. well, of course, we know that t it's staying off with new talks for june 18th and 19th in moscow. that has hadded some of the...
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Feb 23, 2012
02/12
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romney's biggest supporters is with us to talk about the new corporate tax plan and expectations for michigan. then sears holding its first earnings conference call since it was acquired by eddie lamb pert. stocks up about 20% today. we'll get all the highlights with a call in a few minutes. plus why the world's biggest tax haven might be right here at home. and greece might be out of the woods but your next cause for stress could be coming from china. all that and more in the next hour of "squawk on the street." we'll begin with squawk on the beat. apple shareholders gathering in cupertino, california today to get an update on the company. good morning, john. >> reporter: good morning, carl. in just about two hours exactly tim cook will have his first turn at running the shareholder meeting as ceo here. he is likely to face a friendly crowd with apple stock up about 20% year to date. but some people wondering, will tim cook make his mark on this company as ceo? what they don't know is he already has in just about four months. let's count the ways. social responsibility. apple is already matc
romney's biggest supporters is with us to talk about the new corporate tax plan and expectations for michigan. then sears holding its first earnings conference call since it was acquired by eddie lamb pert. stocks up about 20% today. we'll get all the highlights with a call in a few minutes. plus why the world's biggest tax haven might be right here at home. and greece might be out of the woods but your next cause for stress could be coming from china. all that and more in the next hour of...
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Mar 12, 2012
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it hit a record according to the university of michigan last month at 23.7 miles per gallon. there's more competition out there for the prius and for other hybrids so it will be interesting to see as gas prices go up, if there will be as much demand as there has been in the past. as we look at shares of toyota, keep in mind prius is critical for them to make market share gains they targeted for this year in the united states. they would like to sell more than 200,000 hybrid models and one last note about toyota. jim lentz who we often talk with on cnbc last week was promoted to the title of ceo toyota motor sales. he'll take that position moving up from coo here in north america and for toyota, this is a big year. they are targeting market share gains and prius. expanded lineup is a big part of that. >> fascinating. the bit about cars overall and their efficiency getting better. is the prius also has efficiency within hybrids gotten better over time or is there a ceiling to that? >> gains are not as great as what we see with internal combustion vehicles. you see turbo booster
it hit a record according to the university of michigan last month at 23.7 miles per gallon. there's more competition out there for the prius and for other hybrids so it will be interesting to see as gas prices go up, if there will be as much demand as there has been in the past. as we look at shares of toyota, keep in mind prius is critical for them to make market share gains they targeted for this year in the united states. they would like to sell more than 200,000 hybrid models and one last...
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Oct 23, 2012
10/12
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i remember in michigan romney specifically said, listen, europe is up to their own. i look at what's happened this morning and i still think europe is behind a lot of weakness. >> when we come back, what will it take for facebook shares to reach higher ground? social networks set to report after the bell as jim said. we'll take a closer look at what the charts are telling us as the fed gets ready to kick off a two day meeting, there's speculation bernanke is unlikely to stick around for a third term. one look at futures. down triple digits. we'll see how today goes when we come right back. tween listeninge numbers... ...and listening to your instinct duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and investment banking services. riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and h
i remember in michigan romney specifically said, listen, europe is up to their own. i look at what's happened this morning and i still think europe is behind a lot of weakness. >> when we come back, what will it take for facebook shares to reach higher ground? social networks set to report after the bell as jim said. we'll take a closer look at what the charts are telling us as the fed gets ready to kick off a two day meeting, there's speculation bernanke is unlikely to stick around for a...
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Oct 5, 2012
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university of michigan or consumer confidence versus hard data. like the establishment survey versus the household survey. so, obviously, whether it's part time workers or whatever, all these issues may skew it but it's what is it. what i want to talk about, one of my favorite pink floyd songs is us and them. us is u.s. and them is canada. isn't that haunting music. let's look at what's going on here. in the most recent read we created 114,000 jobs. 7.8%. this of course comes from the household survey. i've always liked to look at the establishment survey. our last month at 142, so a bit lower. that was 8.1. look at canada. remember canada, you know, you have to kind of adjust it. they are about one tenth of the population. they created 52,100 jobs. last month, 34,300. it's interesting because their rate went up from 7.3 to 7.4 they add ed 70,000 people in their labor force. this makes me optimistic. not so much this. not so much the 873. why? because there's good things going on in canada. job growth was broad based and i think, you know, our eco
university of michigan or consumer confidence versus hard data. like the establishment survey versus the household survey. so, obviously, whether it's part time workers or whatever, all these issues may skew it but it's what is it. what i want to talk about, one of my favorite pink floyd songs is us and them. us is u.s. and them is canada. isn't that haunting music. let's look at what's going on here. in the most recent read we created 114,000 jobs. 7.8%. this of course comes from the household...
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Dec 7, 2012
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they had rallied back after the university of michigan data. they were back at the morning's highs. people said, wait a minute. if it's a deal, wouldn't both of them be making a statement. it's something that you keep in the back of your mind. if you ever hear they're going to make a joint statement, the mashlt will probably take off, sensing that that's the deal. this morning they pulled back in anticipation of his speaking because he was speaking along and then they pulled back on his statement which seems edseemed progress so far. >> it might be a free pass. so many different variables. sandy, the election, holiday workers. you say three asterisks. >> yeah, i think it has to have three asterisks, it doesn't fit in with initial claims and other items. they said sandy had no impact on the number. i think that may be because the number was basically taken before the impact was held. i think they're going to see a lot of revisions here. >> next week setting up. it's going to be another big one. same store sales from various companies and, of course, the fed. >> the fed is important.
they had rallied back after the university of michigan data. they were back at the morning's highs. people said, wait a minute. if it's a deal, wouldn't both of them be making a statement. it's something that you keep in the back of your mind. if you ever hear they're going to make a joint statement, the mashlt will probably take off, sensing that that's the deal. this morning they pulled back in anticipation of his speaking because he was speaking along and then they pulled back on his...
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Aug 2, 2012
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they found one particular residential address in lansing, michigan, that was the source of 2,137 tax returns potentially fraudulent. and received $3,316,000 in refunds. another address in chicago, 765 returns coming from just that one residential address. and again, in belle glade, florida. where is the crime most rampant. tampa, florida, 88,000 potentially fraudulent tax returns, refunds issued of over $468 million. again in miami, and atlanta, georgia, that's where this is all happening. now the treasury inspector-general called all of this disheartening. >> once the money is out the door, it's almost impossible to get it back. the bad guys know that the irs is unable. given the limited number of staff it has to address every single allegation of tax fraud. >> now melissa, in its response to this report, the irs says that they have put changes in place since the tax year that they studied here. and they think that the allegation that up to $21 billion could be misspent is overestimated. simon, back to you. >> staggering numbers, good stuff there, aman jobbers, mary thompson with a
they found one particular residential address in lansing, michigan, that was the source of 2,137 tax returns potentially fraudulent. and received $3,316,000 in refunds. another address in chicago, 765 returns coming from just that one residential address. and again, in belle glade, florida. where is the crime most rampant. tampa, florida, 88,000 potentially fraudulent tax returns, refunds issued of over $468 million. again in miami, and atlanta, georgia, that's where this is all happening. now...
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May 3, 2012
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university of michigan comes to mind. retail sales, .7, .8, arguably middle of the road. when you consider all the other issues we're dealing with, there's mitigating sirbg circumstances. where am i going with this? let's add in the next topic, europe. spain moved 2.5 billion euros of three-year paper, and everyone was dancing in the streets, but it's significantly higher yields than they did on march 1st. these issues, along with the election, maybe some significant polar changes in the leadership in the parties in europe, whether it's france, maybe the netherlands, these are all balls that are up in the air, and they're going to affect investors. last but not least, jim bianco, my good friend and economist, thinks we're going to reach the debt ceiling by the end of may and stretch it out to october. that will be an election issue in his mind, which could bring the tax issue for the end of the year. you zsee where i'm going? it's difficult to predict the markets. the next jobs number is going to make it easier the next several weeks. >> a lot of mine fields still to navi
university of michigan comes to mind. retail sales, .7, .8, arguably middle of the road. when you consider all the other issues we're dealing with, there's mitigating sirbg circumstances. where am i going with this? let's add in the next topic, europe. spain moved 2.5 billion euros of three-year paper, and everyone was dancing in the streets, but it's significantly higher yields than they did on march 1st. these issues, along with the election, maybe some significant polar changes in the...
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Jul 13, 2012
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this is the july preliminary, very much lower than expected, 72.0 is the july preliminary, university michigan sentiment index. looking for 73.4, i had estimates as high as 74. the last time we were had a final read this low, you would have to go back to december of last year. the lowest read currently this year on a final basis happens to have been our last look at 73.2. don't see the equity markets or the interest rate markets paying attention yet but it is a friday. sometimes they have a very strange glide path to the closing bell. back to you. >> no real reaction to that consumer sentiment number. >> no. we're a little better but we have been down for so long and seems up to me. there is only so low you can beat this market down. you have good loan growth at wells and good loan growth at j.p. morgan and people looking for macro numbers and there is the numbers. they're both positive. >> what we have tonight on "mad money.." >> this is the future of the defense budget, you listen to simpson-bowles and maybe this is the solution is to have even more unmanned than we have. they're inexpensive
this is the july preliminary, very much lower than expected, 72.0 is the july preliminary, university michigan sentiment index. looking for 73.4, i had estimates as high as 74. the last time we were had a final read this low, you would have to go back to december of last year. the lowest read currently this year on a final basis happens to have been our last look at 73.2. don't see the equity markets or the interest rate markets paying attention yet but it is a friday. sometimes they have a...
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Apr 3, 2012
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but if he can repeat what he did in wisconsin, what he did earlier in michigan, ohio and illinois, you could see a window where rick santorum would say, do i really want to campaign for another three weeks, fight it out in pennsylvania when it looks very, very difficult for me? everyone in the republican political world believes this race is functionally over. but rick santorum isn't there. possibility that tonight could influence that outcome. >> and you mentioned the president at 12:30 today, he will give a speech attacking the gop budget as we see both sides take their corners relative to energy and in this case relative to how the country spends money. >> carl, this is why mitt romney wants to turn to the general election. president is squarely in the general election. he's going hard today after the ryan budget, which the democrats have now taken to calling the ryan romney budget. that has implications on policy for medicare, for discretionary spending, education. all things the president is going to say that paul ryan and mitt romney by extension are trying to shift more of the b
but if he can repeat what he did in wisconsin, what he did earlier in michigan, ohio and illinois, you could see a window where rick santorum would say, do i really want to campaign for another three weeks, fight it out in pennsylvania when it looks very, very difficult for me? everyone in the republican political world believes this race is functionally over. but rick santorum isn't there. possibility that tonight could influence that outcome. >> and you mentioned the president at 12:30...
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Mar 7, 2012
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but that might be a little bit less favorable to him than michigan and ohio. you go to the state of maryland, which is a good romney target. and then you get to the northeast where there are lots of big romney targets. the bottom line is mitt romney's got to lead. and the structure of this process doesn't make it very easy for either of these guys, santorum or gingrich to wipe out that lead. you know, they have three-point shots in basketball, they don't have ten-point shots and that's the difficulty for santorum and gingrich. >> you've consistently said no way to a brokered convention, but at what point, john, do you see a two-man race happening? >> ask newt gingrich that question. newt gingrich did not finish second anywhere. he won in the state of georgia. santorum's campaign is trying to ramp up pressure on gingrich to get out of the race because they believe since they're doing very well among conservative voters, that's the heart of the republican party, if they can get newt gingrich to step aside, they can consolidate and begin winning a lot of these bi
but that might be a little bit less favorable to him than michigan and ohio. you go to the state of maryland, which is a good romney target. and then you get to the northeast where there are lots of big romney targets. the bottom line is mitt romney's got to lead. and the structure of this process doesn't make it very easy for either of these guys, santorum or gingrich to wipe out that lead. you know, they have three-point shots in basketball, they don't have ten-point shots and that's the...
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Feb 8, 2012
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cadillac cts built in michigan. jeep grand cherokee. another vehicle very popular in china. in saudi arabia, it's number four in terms of exports. they want luxury suvs, the ones built in south carolina and alabama by bmw and mercedes. finally, when you take a look at mexico and latin america, the full portfolio, anything that we get here, they get down there. you're looking at the ford focus, chevy cruz, those are in demand. why are our assembly plants so red hot right now? it has to do with us having lower labor costs much more competitive after everything was reworked the last couple years, and we're on a level platform. 16 plants now run three shifts a day. in 2008, there was only one plant that had three shifts a day. of course, currency plays a big role in making the economics of exporting work. just look at what's going on with the yen. this is why the japanese automakers, guys, they're shifting production over here to the united states. a lot of that to meet demand here. but also to meet demand in other countries. if you look at the list, guys, of other countries whe
cadillac cts built in michigan. jeep grand cherokee. another vehicle very popular in china. in saudi arabia, it's number four in terms of exports. they want luxury suvs, the ones built in south carolina and alabama by bmw and mercedes. finally, when you take a look at mexico and latin america, the full portfolio, anything that we get here, they get down there. you're looking at the ford focus, chevy cruz, those are in demand. why are our assembly plants so red hot right now? it has to do with...
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Feb 29, 2012
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>> all eyes on michigan last night as mitt romney pulled through in a clutch, holding off conservative challenger rick santorum ahead of next week's super tuesday. we'll talk to reince priebus and get his take on last night's big win. >>> the nasdaq, 3,000, still watching that. >> we are. semiconductors also a main contributor yesterday. you can debate where the prices will be sustained there. we seem to be pulling back now. >> looking back at these statistics, it's taking me back to that 1999 period. the incredible moves that we saw then to bring us above 3,000 in november, i believe it was, of ' '99, only to hit over 5,000 march 10, 2000, and be back at 3,000 by december of that year. the double having burst later in 2000 and here we are finally close to breaching that 3,000 mark. we haven't seen that in 11 years. >> in a very different environment. we were propelled through a lack of earnings at that stage, weren't we? it was a very different environment to where we now trade where you have the likes of apple -- >> the nasdaq is, yes, far more modest than it was then when you had th
>> all eyes on michigan last night as mitt romney pulled through in a clutch, holding off conservative challenger rick santorum ahead of next week's super tuesday. we'll talk to reince priebus and get his take on last night's big win. >>> the nasdaq, 3,000, still watching that. >> we are. semiconductors also a main contributor yesterday. you can debate where the prices will be sustained there. we seem to be pulling back now. >> looking back at these statistics, it's...
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Jan 27, 2012
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the university of michigan's consumer sentiment index rising to 11 month highs in january. up a full point from mid-month levels. illumina's board saying it will review roche's unso liss tilled takeover offer. it says it intends to advice shareholders on the formal position on the offer within ten days. the company put a poison pill in yesterday. no big surprise there. >>> you can see the nasdaq is doing reasonably well. the s&p 500, at least it's holding above 1300. quite a tight range. utilities are down today. a very mixed picture. let's have a look at where we are on the breadth of the move. should be relatively evenly spaced. the nyse. there you go. almost 1 to 1. the nasdaq, bearing in mind that that market is doing slightly better. it's only a marginal move, again, 1 to 1. >>> ford missing estimates but posting its biggest profit in -- shares of ford right now are trading, there we have it, down by about -- phil lebeau standing by in dearborn, michigan. >> reporter: the reason ford shares are trading lower is because this was a disappointment for a lot of people on w
the university of michigan's consumer sentiment index rising to 11 month highs in january. up a full point from mid-month levels. illumina's board saying it will review roche's unso liss tilled takeover offer. it says it intends to advice shareholders on the formal position on the offer within ten days. the company put a poison pill in yesterday. no big surprise there. >>> you can see the nasdaq is doing reasonably well. the s&p 500, at least it's holding above 1300. quite a tight...
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Dec 21, 2012
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>> we're looking for university of michigan, and it should come out momentarily. 72.9. so 72.9 on university of michigan sentiment survey. of course, this is the december final. it's going to be comped to 74.5. but that's a little bit disingenuous. it really should be comped at 82.7. that was the final reit to last month. we definitely take a bit of a backup here. how does 72.9 fit in. we vice president been below 72 point 9 since july. it was 72.3. maybe a little bit of a disappointment. of course, last night's issue with the vote, obviously didn't make the survey. but it will make the survey of what the markets try to define for the rest of the day. back to you. >> all right. thank you, rick santelli. jim, you know, let's talk about what's on "mad" tonight. >> tipco is one of these stocks, there's a bunch of them, i mentioned red hat. these are companies, s.a.p., oracle, you bring them in and you save money. you go to harrah's, and it's put together by their team. you know when you go into amazon, david let's say you like books on gardening, the next thing i know it p
>> we're looking for university of michigan, and it should come out momentarily. 72.9. so 72.9 on university of michigan sentiment survey. of course, this is the december final. it's going to be comped to 74.5. but that's a little bit disingenuous. it really should be comped at 82.7. that was the final reit to last month. we definitely take a bit of a backup here. how does 72.9 fit in. we vice president been below 72 point 9 since july. it was 72.3. maybe a little bit of a disappointment....
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Oct 3, 2012
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national purchasing numbers, consumer confidence, michigan confidence. these are basically qualitative data points meaning they're expressed by opinion, survey, questionnaires. and believe me, i'm oversimplifying a bit. and that has improved. if we look at quantitative data as i said, it would be the wo boards, things like today's adp number, where you're measuring jobs. you use a measurement. or durable goods orders. jobs numbers. and those have been a bit lacking. now, here's where the mushy factors come in. what you do with some of these data points, like the qualitative data, like ism surveys, starts to get quantitative because they take those respondents and their opinions and their questions and their answers and they use difusion. but the other issue is on quantitative data, there's also a bit of mushiness. seasonal adjustments make them mushy. there's a lot of issues regarding personalizing. who exactly decides the parameters of seasonal adjustments. there's a human factor there. but in the end, the positives and negatives can go both directions.
national purchasing numbers, consumer confidence, michigan confidence. these are basically qualitative data points meaning they're expressed by opinion, survey, questionnaires. and believe me, i'm oversimplifying a bit. and that has improved. if we look at quantitative data as i said, it would be the wo boards, things like today's adp number, where you're measuring jobs. you use a measurement. or durable goods orders. jobs numbers. and those have been a bit lacking. now, here's where the mushy...
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Oct 26, 2012
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. >> october final university of michigan is 82.6. remember, 83.1 was mid month. that disappears. that one when it was released was a five-year high. this number is darn close to a five-year high as well taking us back to september of 2007. 82.6 our final read and now officially follows the final read in september. back to you. >> all right. thank you so much. the dow almost exactly flat on that news. "squawk on the street" will be right back. between listening toe numbers... ...and listening to your instinct duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and investment banking services. yeah, you -- you know, everything can cost upwards of...[ whistles ] i did not want to think about that. relax, relax, relax. look at me, look at me. three words, dad -- e-trade financial consultants. so i can just go talk to 'em? just walk right in and talk to 'em. dude, those guys are pros. they'll hook you up with a solid plan. they'll -- wa-- wa-- wait a minute. bobby? bobby! what are you doing, man? i'm speed dating! [ male announcer ] get inv
. >> october final university of michigan is 82.6. remember, 83.1 was mid month. that disappears. that one when it was released was a five-year high. this number is darn close to a five-year high as well taking us back to september of 2007. 82.6 our final read and now officially follows the final read in september. back to you. >> all right. thank you so much. the dow almost exactly flat on that news. "squawk on the street" will be right back. between listening toe...
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Nov 5, 2012
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former governor of michigan. the best place to start, governor is -- is simpson bowles still a good idea? do you believe in it? did you believe in it from the beginning and health care isn't a part of it and does that make a difference? >> yes, i believe in it. yes, it was a good idea from the start. yes, it should have had more support from the beginning. as far as going forward, hopefully 48 hours from now we could get started on it. the only thing simpson bowles is lacking is adequate detail on what we are going to do about health care entitlements and how we'll do the tax restructuring. we need comprehensive tax reform urgently as a nation. our system is outmoded and not competitive globally today. >> you arrived at my second question. we all understand the reason simpson-bowles is back in the water cooler vernacular is because of the fiscal cliff and how to solve it and the long term structural changes that need to be made. so no matter what happens tomorrow although it can have an effect on the fiscal cliff
former governor of michigan. the best place to start, governor is -- is simpson bowles still a good idea? do you believe in it? did you believe in it from the beginning and health care isn't a part of it and does that make a difference? >> yes, i believe in it. yes, it was a good idea from the start. yes, it should have had more support from the beginning. as far as going forward, hopefully 48 hours from now we could get started on it. the only thing simpson bowles is lacking is adequate...
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Jan 31, 2012
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>> through the results tonight, we are looking forward to the michigans and nevadas of the world. >> reporter: yep. >> any signs at all for gingrich to do anything but continue to plow forward? >> reporter: i think he'll keep going. he is living off the land. spending money as fast as it comes in. talking to the romney people here in florida, they're saying they're confident about a nationwide race going forward because they have the organizational advantage. that's their spin today going in to the rest of the campaign, carl. >> enjoy the weather while you can. >> reporter: we will. >>> now to an interesting apartment sale in new jersey. jon corzine's new jersey apartment is on the market for nearly $3 million. kayla tayshi has a look inside. good morning. >> reporter: good morning. if you have $2.9 million burning a hole in the pocket, you'll find former ceo hudson river penthouse, two bedrooms, four bathrooms and floor to ceiling floors of the hudson river and manhattan skyline. he bought it in hoboken's towers while serving as governor in 2008. he paid $3.26 million. not $3.6 mill
>> through the results tonight, we are looking forward to the michigans and nevadas of the world. >> reporter: yep. >> any signs at all for gingrich to do anything but continue to plow forward? >> reporter: i think he'll keep going. he is living off the land. spending money as fast as it comes in. talking to the romney people here in florida, they're saying they're confident about a nationwide race going forward because they have the organizational advantage. that's...
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i would expect that in michigan and ohio where the car industry has been reenergized, that that would have a significant impact. we certainly notice that our business in those two states is pretty good. so that was a help for us relative to the economy. >> jim, are there some things that you wouldn't expect that people stock up on? kind of an end of the world trade? or alternatively, i know that at various costcos you could have liquor. are people just -- are there people who say, okay, look. h is it for me. i am going to do as if it is the last? >> i think probably when they're there and they're getting the water and they're getting the batteries, they run across other th and figure, well, i might as well get some of this ham and perhaps some of this frozen food and the potatoes. so it adds up to a lot of different things that add probably in many different instances on an impulse basis. >> jim i know you well enough if we walked into a costco right now and i asked you which shelf would be empty, down to the sku you could probably tell me. right? >> i think so, yes. i think it's goin
i would expect that in michigan and ohio where the car industry has been reenergized, that that would have a significant impact. we certainly notice that our business in those two states is pretty good. so that was a help for us relative to the economy. >> jim, are there some things that you wouldn't expect that people stock up on? kind of an end of the world trade? or alternatively, i know that at various costcos you could have liquor. are people just -- are there people who say, okay,...
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i remember last year you and i sat next to each other in that debate in michigan and were talking about 7% bund yield. there has to be something positive in europe beyond just the pumping up by the eu. >> reporter: oh, absolutely. as a matter of fact it's interesting you touched on the italian market because the italian market is much more unique than the greek or the spanish fixed income market because a lot of the citizens of italy participate in the purchasing of their paper very similar to japan. so there are some good things going on. and even the spanish auctions that we have had, there has been a higher level of activity by those outside the system. and that's important because until you bring retail investors and outsiders in, these markets aren't real. they're getting a little bit more real. >> rick, we'll talk to you in a little while. thanks so much. rick santelli in chicago for us. >>> really quickly, jim, i preface this by saying there's a lot more going on today than making money, but assuming we get an opening bell tomorrow, i don't know. do you have a list? what do you d
i remember last year you and i sat next to each other in that debate in michigan and were talking about 7% bund yield. there has to be something positive in europe beyond just the pumping up by the eu. >> reporter: oh, absolutely. as a matter of fact it's interesting you touched on the italian market because the italian market is much more unique than the greek or the spanish fixed income market because a lot of the citizens of italy participate in the purchasing of their paper very...